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Oriole, Inc is considering purchasing equipment costing $32000 with a 5 -year useful life. The equipment will provide cost savings of $8900 and will be

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Oriole, Inc is considering purchasing equipment costing $32000 with a 5 -year useful life. The equipment will provide cost savings of $8900 and will be depreciated straight-line over its useful life with no salvage value. Oriole Inc requires a 1006 rate of return. What is the approximate internal rate of return for this investment? 9% 10% 11%

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